You wouldn't know it from the share price but behind the scenes...

You wouldn't know it from the share price but behind the scenes there are apparantly plans afoot to introduce a miner from offshore to this project.

The project is big and high grade and that has attracted a number of players to the table.

Like I've said many times, this project is too big for RCH to go it alone and the current capital market meltdown has only reinforced that view.

It could go serveral ways from what I hear, complete outright sale or more simply (and likely) an equity particpation from an overseas miner. Its all depends on who wants what and what the new players will pay etc.

As a minimum, we can expect a new cheque book at the table and a new leadership group running the show as well I dare say.

The current drilling is meant to demonstrate the true width and true grade over a number of holes. The extra depth of drilling is a role of the dice to try and hit new mineralisation at depth, below previous drilling. One would hope that past assay errors are largely eliminated and we get true grades back. Remember it was estimated that the old Rio assays were considered to be 35% UNDERSTATED. That makes for some mind blowing grades assuming they are free of the errors. As the company is a piss poor communicator of such important information we will probably be left to guess.

My position is what they release will be as true as its going to get so no point whining about the grades that could be better. I strongly suspect that we will get at least a 20% improvement in grade over the Rio grades. I dont think they have an alternative to diamond cutting the cores and one would imagine that they will still lose Moly during the drilling process however they should have no problems at the assay end of the process which is completely different to what Rio did. nobody assays Moly now days using the old techniques used in 1980.

Allot of people got caught in this stock after buying heavily at the urging of the purple circle and to say there is some seething going on around town is an understatement. Talk about torching your friends.

Well, the repair job is being formulated I bleieve and its most fortunate that they have a world class asset to deal over. The aussie market doesn't seem to give a toss about $10Billion+ metal value in the ground (at a fat grade) but north American miners are apparantly pretty impressed. The resource matches and beats most of what the yanks and Canadians have with the exception of the mighty Climax mine and a couple of others.

If its starts going up suddenly, you will know its on, it will probably the purple circle actually buying the stock for a change rather than winding up everybody else to do so (lol).

Of course it aint happened until it happens so don't get excited unless you see tangible signs appearing.

By the way, I couldn't understand the company's comment that the visible signs in this hole match up with Rio's. If you look at Rio's drill results for M11, M12, M13 they didn't hit mineralisation until 50 - 70 metres (depending on the hole). RCH reported they had visual at 14 metres. I must be missing something (of course). Anyway, the drill cores are brilliant, loaded with Mo. And so they should be as the hole is going directly into the highest grade zone of the deposit.